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What is FOREX or FX?
It is an abbreviation for Foreing Exchange Market , which means foreign currency .
The FX market was created in 1971 and moves large volumes of money daily, operating 24 hours a day between 10pm on Sunday and 10pm on Friday.
In the Forex market, there is the exchange of one currency for another, that is, the purchase and sale of variable types of currencies. Moving more than 5 trillion per day.
Currency Pairs
Three types of currency pairs are available , categorized by the size of the average trading volume or liquidity :
MAJOR CURRENCY PAIRS
The most liquid pairs, i.e. those that have the highest average daily trading volume (and least risk of slippage), are generally a combination of the USD and another currency from the majors, i.e. the EUR, JPY, GBP, Swiss Franc (CHF), CAD, NZD, and Australian Dollar (AUD). Specifically, here are the top currency pairs, sorted by trading volume: EURUSD, USDJPY, GBPUSD, AUDUSD, USDCHF, USDCAD, and NZDUSD.
MINOR PAIRS OR CROSSES PAIRS
These are the world's main currencies traded among themselves,without the US dollar . The following pairs are: EUR/GBP, EUR/CHF, EUR/CAD, EUR/AUD, EUR/NZD, EUR/JPY, GBP/JPY, CHF/JPY, CAD/JPY, AUD/JPY, NZD/JPY, GBP /CHF, GBP/AUD, GBP/CAD...
EXOTIC CURRENCY PAIRS
EUR/USD
The Euro/Dollar is one of the most operated forex currency pairs with the greatest liquidity and there is no surprise there, after all, they are the two strongest economies in the world (USA and Europe).
Where to start?
To start trading FOREX you need to open an account with a Broker. But, be very careful when choosing a broker, so choose a broker you trust. The account can be opened 100% free of charge and has no maintenance fee.
More than 15 years in the market
DISCLAIMER!
Your capital is at risk. Every investment has risk, so only invest what you don't need.
Binary options trading involves significant risks and may not be suitable for all investors. Make sure you fully understand the risks before investing.
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